Industry News: OCR unchanged at 3.5%

Screen Shot 2015-01-29 at 10.44.42 amThe Reserve Bank today left the Official Cash Rate unchanged at 3.5% – indicating there is the potential for it to fall, rather than an expected rise, in the future.

The RBZN notes our trading partners are still showing weaker economic results, and lower oil costs have crated volatility for some.

“The lower oil price will have a significant impact on prices and activity in New Zealand,” the bank said in its statement this morning. “The most direct and immediate effects are through fuel prices, with the price of regular petrol falling from a national average of $2.23 in mid-2014 to $1.73 currently. Continue reading “OCR unchanged at 3.5%” »

Industry News: Thrifty roll out scooters in Wellington


Thrifty have launched a fleet of rental scooters in Wellington, following a successful trial in Picton.

The EURO 50, 49cc scooters will be available from January 28 until April 6 (Easter Monday) and will give visitors to the region another option for getting around the capital city.

Thrifty’s general manager Emma Gardiner thinks the scooters will be an attractive option for people wanting to explore the sites around the city independently. Continue reading “Thrifty roll out scooters in Wellington” »

Industry News: sgfleet extends deal with racer


Fleet management and lease firm SG Fleet Group Limited has announced they will be the naming rights sponsor of Dominic Storey and the iSport Racing Holden Commodore in the BNT NZ SuperTourer series.

“I’m thankful to have such great support from sgfleet, they came onboard with me last season and have seen the potential that I can deliver them some strong results for the rest of the season,” says Storey. “I’m looking forward to working with them during my 2015 sprint series campaign.”

sgfleet New Zealand general manager Geoff Tipene says partnering with Storey in the NZ SuperTourer series is a perfect fit for sgfleet and their marketing objectives. Continue reading “sgfleet extends deal with racer” »

Industry News: NYK adds Kyushu

kyushuNYK Vehicle Express Service has announced that from new month it will be adding a fourth port to its Japan service.

Media port on Kyushu has been added to the service.

The line already calls at Kawasaki, Osaka and Nagoya. Continue reading “NYK adds Kyushu” »

Industry News: Billionaire George Soros mulls dealership acquisition

George Soros

George Soros

US billionaire financier George Soros wants to invest in or buy a large automotive dealership group, potentially following in the footsteps of Warren Buffett, according to Automotive News.

Two representatives of Soros Fund management, which Soros chairs, attended the National Automobile Dealers Association convention in San Francisco over the weekend to research the industry and find potential investing opportunities, says Automotive News.

A deal by Soros would follow a similar move last year by Buffett’s Berkshire Hathaway, which last year announced the purchase of the Van Tuyl Group auto dealership. Continue reading “Billionaire George Soros mulls dealership acquisition” »

Industry News: Be safe when storing fuel

gascanWith fuel prices at a five-year low Z energy has warned on the dangers of storing fuel.

While the warning is largely for those storing fuel at home, many dealers store a few litres in cans around the dealership.

Z Energy’s health, safety, security and environment (HSSE) manager, Julie Rea, cautions customers to understand the risks before deciding to store fuel at home. Continue reading “Be safe when storing fuel” »

Industry News: Asian testing now an option for ANCAP


The Australian New Car Assessment Program today awarded the Honda Jazz a 5-star safety rating – the first rating issued by ANCAP determined using crash test data from the recently formed South East Asian New Car Assessment Program, ASEAN NCAP.

The result followed five physical crash tests conducted by both ANCAP and sister program, ASEAN NCAP based in Malaysia.

“ANCAP has for 15 years been making use of shared crash test data with its European counterpart, Euro NCAP, however today’s rating for the Honda Jazz is a first in terms of data sharing arrangements with ASEAN NCAP,” says ANCAP chairman, Lauchlan McIntosh. Continue reading “Asian testing now an option for ANCAP” »

Industry News: Mercedes-Benz announces new CLS line up

CLS 500 Coupe - 3-1

The New Zealand Mercedes-Benz distributor has announced the pricing and specification of the newly revised CLS-Class Coupe and Shooting Brake models for 2015.

Four Coupes and two Shooting Brakes grace the New Zealand line-up and a mixture of power plants including a 2.2-litre four-cylinder turbo diesel in the CLS 250 CDI, a new twin turbocharged 3-litre V6 in the CLS 400, and a 5.5-litre AMG bi-turbo V8 in the CLS 63 AMG, which now has an uprated output of 430kW. Continue reading “Mercedes-Benz announces new CLS line up” »

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